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AIR’s Mangkhut loss forecast had more exclusions than the liability cover of an ageing US sitcom star.
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The range excludes losses including business interruption and auto claims in mainland China.
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Insurers paid out £92mn in claims in the three months ended June, according to ABI figures.
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Hong Kong looks set to bear the brunt of the cost, which could match or exceed the $6.8bn wrought by Hato, according to RMS and AIR executives.
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Each of the two carriers wrote just over a quarter of private flood premiums across the two states
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Nothing is ever as short-tail as it seems.
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A large hail event drove more than a third of the losses
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Tokio Marine Kiln confirms it is not among the syndicates that faced a lack of collateral to respond to reinsurance claims.
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Insured losses from Hurricane Florence are expected to reach $1.7bn to $4.6bn, the modeller has said.
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The binders market could have seen a greater loss if Florence had hit South Carolina directly.
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Sources talking tentatively about a loss in the region of $5bn.
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State Farm, Nationwide, USAA and Allstate lead market share for cat-exposed Carolinas.
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